Ethereum NFT Market Booms with Over $231M in Weekly Trading Volume

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The Ethereum non-fun­gi­ble token (NFT) mar­ket has seen a sig­nif­i­cant increase in activ­i­ty, with over $231 mil­lion in week­ly trad­ing vol­ume. This is a result of 154,000 traders mak­ing 474,000 trans­ac­tions. The aver­age trad­er made 3.1 trans­ac­tions, with an aver­age vol­ume of $487 per trans­ac­tion, and an aver­age of $1,494 per trader.

These num­bers demon­strate the grow­ing pop­u­lar­i­ty of NFTs, which are dig­i­tal assets that can­not be repli­cat­ed or replaced. They are often used to rep­re­sent things like art, col­lectibles, and vir­tu­al real estate. The increas­ing demand for NFTs has led to a boom­ing mar­ket, with many new investors enter­ing the space to take advan­tage of the poten­tial returns.

In addi­tion to the Ethereum NFT market’s recent suc­cess, enter­tain­ment com­pa­ny Doo­dles is also mak­ing head­lines. Doo­dles, the Web3 enter­tain­ment com­pa­ny behind its epony­mous NFT project, is set to acquire ani­ma­tion stu­dio Gold­en Wolf, known for its work on the ani­mat­ed series Rick & Morty. Finan­cial terms of the deal are not revealed. Once the acqui­si­tion is com­plete, Gold­en Wolf’s team will join Doo­dles and its CEO will become Doo­dles’ Chief Con­tent Officer.

Fol­low our On-Chain NFTs sec­tion to get dai­ly NFT insights you won’t get any­where else.



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